Adults in Ireland are spending €1.3bn every year on video streaming subscriptions, a new survey has found.
The data from Pure Telecom said the figure has risen from €967 million back in 2021.
On average, adults are paying for 2.4 video streaming services each.
The average person currently spends €28.26 per month, versus €22.57 per month in 2021.
It also found that 26% of video streaming subscribers here are sharing their passwords with someone outside of their household.
Video streaming icons are seen on a mobile phone display. Picture by: imageBROKER.com GmbH & Co. KG / Alamy Stock PhotoHowever consumers are feeling the pinch from having multiple video streaming accounts.
Many are now choosing to reduce the number of services they pay for to save money.
Some 38% of those who pay for services said they have cancelled at least one subscription in the last 12 months.
Some 17% said they have cancelled to get better content elsewhere, while 16% said they switched off as they had too many subscriptions already.
Some 28% of respondents said they would be willing to watch ads on their chosen video streaming channel if it meant they could get the content for free - while 14% already do that.
'Cost-conscious viewers'
Pure Telecom CEO Paul Connell said Ireland has well and truly embraced video streaming.
"People know that they can’t get all of the top shows from just one provider and the majority are prepared, even if it is reluctantly, to pay out of fear of missing out," he said.
"People value a good quality product being delivered at a fair price, which has made for a highly competitive marketplace.
"With an abundance of choice at their fingertips, cost-conscious viewers are more than happy to hop between providers if they think there is better content elsewhere.
"Consumers always want to know that they are getting bang for their buck, particularly at a time when people are watching what they spend more closely," he added.
